Brent Crude Oil Hits $109 per Barrel on Monday

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On Monday, the price of North Sea benchmark crude oil, Brent, dropped by 3.4% to $109 per barrel.

Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light West Siberian oil known as SIBERIAN LIGHT, is valued at $96 per barrel.

The price difference, or discount, between Brent and Urals crude ranges from $10 to $20 per barrel.

Major trading platforms for oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPIMES (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which together shape the global oil pricing landscape.

This overview was presented by Alexei Grishchenko, Doctor of Economics and Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.